In a fairly sudden change of approach, several major banks are now predicting that the Bank of England will cut interest rates this week down to 3.75 per cent.
The MPC’s next meeting comes on Thursday 6 November and, up until only a few weeks ago, few if any thought there would be a cut pre-Budget - most didn’t expect one until 2026. But the combination of fewer jobs vacancies as companies cut back on hiring, and inflation unexpectedly flattening out in September, now has the like of Barclays and Goldman Sachs believing that a split vote will result in a November cut in a boost to mortgage seekers.
